Car EMI Calculator

Find out your exact monthly payment, principal amount, and total interest cost using the standard reducing-balance formula utilized by Indian banks.

On-Road Price (₹)

Down Payment (₹)

Interest (%)

Months

Processing Fee (₹)

₹24,620

Principal

₹12,00,000

Total Interest

₹2,77,190

Total Outflow

₹14,82,190

Check Health

Is this EMI safely within your monthly budget based on the 20/4/10 rule?

Hidden Costs

Don't forget running costs! Calculate how much petrol will cost you every month.

Methodology & Assumptions

We use the standard reducing-balance method to calculate your Equated Monthly Installment (EMI).

EMI = [P x R x (1+R)^N] / [(1+R)^N - 1]

P = Principal loan amount
R = Monthly interest rate (Annual Rate / 12 / 100)
N = Loan tenure in months

•Calculations assume a fixed interest rate throughout the tenure.
•Processing fees are added to the total cost but are typically paid upfront, not capitalized into the loan principal unless requested from your bank.
•Actual bank EMIs might differ slightly due to rounding rules or specific daily-reducing balance implementations.